A Quote by Rush Limbaugh
Liberal Democrats are inexorably opposed to tax cuts, because tax cuts give people more power, and take away from the role of government.
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What Mae West said about sex is true about taxes. All tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
On GOP Tax Cuts: They'll take food out of the mouths of children to give tax cuts to the wealthiest.
If we can’t puncture some of the mythology around austerity, politics or tax cuts or the mythology that’s been built up around the Reagan revolution, where somehow people genuinely think that he slashed government and slashed the deficit and that the recovery was because of all these massive tax cuts, as opposed to a shift in interest-rate policy - if we can’t describe that effectively, then we’re doomed to keep on making more and more mistakes.
His presidency ended more than a decade ago, but politicians, Democrat and Republican, still talk about Ronald Reagan. Al Gore has an ad noting that in Congress he opposed the Reagan budget cuts. He says that because Bill Bradley was one of 36 Democratic Senators who voted for the cuts. Gore doesn’t point out that Bradley also voted against the popular Reagan tax cuts and that it was the tax cuts that piled up those enormous deficits, a snowballing national debt.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
Over the past 100 years, there have been three major periods of tax-rate cuts in the U.S.: the Harding-Coolidge cuts of the mid-1920s; the Kennedy cuts of the mid-1960s; and the Reagan cuts of the early 1980s. Each of these periods of tax cuts was remarkably successful as measured by virtually any public policy metric.
What the Trump tax plan is a plan to give tiny little tax cuts to most Americans, raise taxes on perhaps one in five families and shower benefits on people who earn millions of dollars a year. And this fits with a fundamental principle the Republicans have been pursuing for a long time. The rich aren't investing and creating jobs, because they don't have nearly enough money, and so we need to get them money. And the way the Republicans want to get it to them is tax cuts first, and then to take away help for children, the disabled, the elderly and the poor.
You are smart people. You know that the tax cuts have not fueled record revenues. You know what it takes to establish causality. You know that the first order effect of cutting taxes is to lower tax revenues. We all agree that the ultimate reduction in tax revenues can be less than this first order effect, because lower tax rates encourage greater economic activity and thus expand the tax base. No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one.
Ladies and gentlemen, the Reagan tax cuts turned the deepest recession since the Great Depression into the largest 20-year economic boom in American history. The Reagan tax cuts of 1981 and '86. And the same thing can happen here again. Democrats just cannot let it.
In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.
[T]hese tax cuts for the wealthiest Americans are also the tax cuts that are least likely to promote growth.
It's common sense to be for middle-class tax cuts and tax cuts on small businesses, to be for not allowing Medicare to be turned into voucher care.
By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.
Democrats in Washington predicted that tax cuts would not create jobs, would not increase wages, and would cause the federal deficit to explode. Well, the facts are in. The tax cuts have led to a strong economy. Real wages were on the rise, and deficit has been cut in half three years ahead of schedule.
The American people want us to stop spending. And so let's just give them some certainty. Let's extend the tax - the existing tax cuts. And then let's give some more tax breaks to small businesses and large. And then maybe the American people will have some confidence.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
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